Changelly froze a stash of 5.73 BTC—valued at roughly $475,000—after a recovery request from Aman Kesar in March 2025, according to blockchain analyst ZachXBT. The freeze attracted attention when the victim claimed the assets were “unjustly” held by the platform. ZachXBT disclosed the development in a June 19 2026 post on X.
Investigation Overview
ZachXBT traced the frozen Bitcoin through blockchain records and email screenshots, linking it to a series of social‑engineering attacks on U.S. investors. The analyst noted that the funds originated from thefts at American exchanges and Bitcoin ATMs, highlighting a pattern of deception. His findings suggest that the compromised assets are part of a larger illicit operation targeting crypto users.
Broader Scam Activity
The same network has reportedly siphoned more than $1 million since 2025, with many victims identified as senior citizens. These scams exploit the trust of older investors, who often hold Bitcoin as part of their retirement strategy. The growing scale of the fraud underscores heightened risks in the crypto market and the need for stronger safeguards.
Owner’s Contradictory Statements
During the investigation, Aman Kesar changed the narrative surrounding the frozen Bitcoin multiple times. Initially, he described the coins as a loan, later claimed they belonged to his employer, and finally asserted they came from a friend who had invested years earlier. The shifting explanations raise doubts about the legitimacy of the recovery request and complicate the case for investigators.